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As of 30-Jun-2023, promoters held 51.46 per cent stake in the company, while FIIs held 12.39 per cent and domestic institutional investors had 3.76 per cent.

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

About 8 stocks that gave double-digit returns in August saw more than 1 crore of shares being bought by mutual funds.

Analysts see the shares gaining another 10-20% from the current levels as they see prices of iron ore remaining firm, while the company continues to see robust volume growth. On Friday, the shares closed at 149.90 rupees, down 0.2% from the previous close.

“The next five-year trend if you ask me is metals are going nowhere because China still accounts for 50-60% consumption of most large industrial metals and it is going to a deep stress slowdown, especially on the fixed capital side, where many of these commodities will suffer. A 10%-20% move in metals is the best we can hope for.”

The stock quoted a 52-week high of Rs 2745.95 and a 52-week low of Rs 1676.0.

Tata Steel, incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 161752.04 Crore) operating in Metals - Ferrous sector.

The private banking stock hit a record high of Rs 1031 on 15 September 2023. It has rallied by nearly 5% in a week and more than 9% in a month.

The annual inflation rate in the US accelerated for a second consecutive month, reaching 3.7% in August, up from 3.2% in July. The surge in oil prices over the past two months, coupled with waning favorable base effects from the previous year, contributed to the rise in inflation. Meanwhile, the core inflation rate moderated for the fifth consecutive month to 4.3%, aligning with market expectations.